Bitcoin (BTC) Price Just 4% Away from All-Time High — Can It Hit a New Record Today?

Bitcoin has already begun to show strong momentum. After falling below $75,000 in April due to global market pressure, it has bounced back with force

Bitcoin (BTC) is getting closer to its all-time high price — just 4% away from hitting $110,000. As of now, it’s trading around $106,183 with a market cap hitting $2.11 trillion. And now, many people in the crypto world are asking, can Bitcoin hit a new record in the next 24 hours?

Let’s find out.

Bitcoin Is Getting Closer to ATH Price

Bitcoin has already begun to show strong momentum. After falling below $75,000 in April due to global market pressure, it has bounced back with force, up 22% over the past month. Recently, it even tested the $107,000 level. Now, all eyes are on whether it can push through to the $110,000 mark.

According to market watchers, this surge mirrors the early 2021 setup, right before the last major bull run. And there’s data backing this momentum.

Daily Price Swings Support the Possibility

One important number to watch is Bitcoin’s 30-day volatility, which shows how much the price might move. Right now, it suggests Bitcoin can go up or down by about 2.5%.

Considering today’s price, that would allow for a move of around $2,654. Starting from its lowest point this month, which was around $96,429, adding 2.5% repeatedly over 30 days could get it to $109,123.

That level is just a bit above the all-time high, which was set in November 2021 at $106,489.

So yes, Bitcoin could hit a new all-time high today.

Institutions Are Buying Massively

Investor interest is booming. U.S. Bitcoin ETFs have pulled in nearly $6.9 billion in just three weeks.

Big companies are buying too, Strategy (formerly MicroStrategy) added 7,390 BTC, and Japan’s Metaplanet recently bought 1,004 BTC for its metaverse projects.

On top of that, Bitcoin futures open interest has hit a record high of $75 billion, showing that traders are betting big on price growth.

Top Analysts Say ‘Yes’

Crypto experts are feeling positive, too. Well-known analysts like Ali Martinez say Bitcoin might soon go above $107,593, which could push the price up to $111,500.

According to him, breaking through this resistance level is crucial for setting the stage for further gains toward $115,000. From there, it might even reach $120,000.

However, if sellers step in and push the price below $103,500, then we might see a return to lower levels.

Another analyst, Michael van de Poppe, says a new ATH is not just possible — it’s likely to happen sooner than expected.

He believes it will hit $120k even sooner. After testing the lower boundary of a key price bracket and bouncing back, Bitcoin is now showing signs of breaking through the upper boundary.

Once this happens, we might see a rapid move toward the $110,000 level. From there, it’s a short step to $120,000.

Despite the recent surge, Mena stated that the cryptocurrency is still 70% below its 2021 peak, reached during the last major bull run.